My list of 600 executives

Do they answer there phones? Most I have seen do not and do not take calls from people they do not know.

[quote=ManDate]

Ladies & gentlemen,

I need some advice.  I have the direct number or number & appropriate extension of about 600 high-level (CFO, CEO, etc...) executives.  I know the list is valid because I put it together myself.

My question pertains to what to say when I begin contacting these wealthy individuals?  I've done phone prospecting (using a script found on this forum) that was geared towards retired individuals at home...and it has worked well.  But, honestly, I've never dealt with the wealthy CEO-types at work. 

What scripts do you think would work (or you have used in the past and you know they work)?  Your advice is appreciated.

Thank you,

ManDate

[/quote]

Why not tell the truth?

Dear My Inner Child,

Please tell me which parts I lied about so that I may be in a better position to provide you with the truth on these parts.

On the other hand, if you aren't saying I lied in my original post, but rather that when I call the prospect, I should "tell the truth", what would that sound like?  That "Jesus Christ was dead and buried and rose on the third day"?  Or perhaps that "Diet Coke DOES taste more like regular Coke"?  Could you please be a bit more descriptive.  Feel free to use a script that has worked for you - if you have found yourself calling on similar prospects

BankRep1, I'm sorry that they don't answer your calls, but let's assume they do.  Especially since I have the business cell of about 20% of them.  Suppposing they do, do you have any good ideas?

Thank you both and everyone else who is following this thread,

ManDate

I worked with the exec management team and their secretaries at a Fortune 500 company.  These secretaries are very good about weeding out prospecting calls.  Make your pitch good enough that the message the secretary leaves is appealing enough to make the Execs call you back.

Make friendly with the secretaries and ask for their voicemail directly. Leave an concise, appealing message. Follow up with a card, then an email with some marketing material 10 days later. Place another call the day after the email. Repeat this process with different variations 15 times if you have to.

[quote=blarmston]Make friendly with the secretaries and ask for their voicemail directly. Leave an concise, appealing message. Follow up with a card, then an email with some marketing material 10 days later. Place another call the day after the email. Repeat this process with different variations 15 times if you have to.[/quote]

The persistance may work...the problem with VM is a lot of times the secretaries will handle the Executives voice mail and you may be stuck.  Same with mail, if the secretaries open all the mail, you may wind up stocking his/her scratch pad pile.  Try to send materials directly to their homes, then call to check up on them at work (this also avoids DNC problems).  Maybe even stop by their office, bring the secretaries donuts or bagels, then ask to drop off materials in person.

What makes you different, what value do you bring?

that is what you need to be able to tell them.

Ignore that idiot Inner Child who is a troll.

[quote=entrylevelFA]

[quote=blarmston] Try to send materials directly to their homes, then call to check up on them at work (this also avoids DNC problems).  Maybe even stop by their office, bring the secretaries donuts or bagels, then ask to drop off materials in person.

[/quote]

An excellent idea entrylevelFA!  Thank you for it.   Having worked in that arena, do you have any other ideas you think may work?

[quote=vbrainy]

What makes you different, what value do you bring?

that is what you need to be able to tell them.

Ignore that idiot Inner Child who is a troll.

[/quote]

But do I just tell this to the voice mail and/or secretary IF I do get them?  Or...if I get the executive, do I just start in with, "Mr. ____ what makes me different as an advisor is ________.  I bring value to you in the following ways: _____, ______, _____.  I'd like to stay in touch with you from time to time with good investment ideas.  Is that OK?"

Looking for further help, as I feel that sounds a little lame-o.

[quote=ManDate]

Dear My Inner Child,

Please tell me which parts I lied about so that I may be in a better position to provide you with the truth on these parts.

On the other hand, if you aren't saying I lied in my original post, but rather that when I call the prospect, I should "tell the truth", what would that sound like?  That "Jesus Christ was dead and buried and rose on the third day"?  Or perhaps that "Diet Coke DOES taste more like regular Coke"?  Could you please be a bit more descriptive.  Feel free to use a script that has worked for you - if you have found yourself calling on similar prospects

BankRep1, I'm sorry that they don't answer your calls, but let's assume they do.  Especially since I have the business cell of about 20% of them.  Suppposing they do, do you have any good ideas?

Thank you both and everyone else who is following this thread,

ManDate

[/quote]

I didn't say that you lied. You asked me what to say and I suggested that you tell the truth. You don't need a script for it and people like it.

[quote=My Inner ChildI didn't say that you lied. You asked me what to say and I suggested that you tell the truth. You don't need a script for it and people like it. [/quote]

My Inner Child,

Thank you for your reply.  What kind of truths do you tell?

Thank you,

ManDate

Dear Ladies & Gentlemen,

Thank you for your advice up to this point.  I am now actively soliciting you for more of the same.  My campaign with these HNW individuals will be starting Monday and I appreciate all direction you can offer in the way of scripts and/or ideas that have worked with you.

In return, I offer you follow-up posts to let you know my results.

Regards,

ManDate

[quote=ManDate]

[quote=My Inner ChildI didn't say that you lied. You asked me what to say and I suggested that you tell the truth. You don't need a script for it and people like it. [/quote]

My Inner Child,

Thank you for your reply.  What kind of truths do you tell?

Thank you,

ManDate

[/quote]

1. Go with a product pitch. Yeah, I know how antiquated that sounds. But it works. These people are busy and everyone who calls tells them that they are uniquely the best. Hit'em with a high yield bond. "Mr Executive i'm calling you today because i have a tax free bond yielding over 7% available? Does that sound like something in which you could have an interest?" The 7% is a TEY on a 4.5% TF bond, based their assumed maximum tax bracket. It's a hook meant to get their attention and give you more time to talk.

Use any high yielding instrument you can find. Another example could be something like these new dividend capture funds, ETY for example, that is yielding over 9%. I haven't used it but a pitch might sound something like this "Mr. Exec I'm calling today with a fund that uses a conservative strategy to generate a 9% plus yield. Could i send you some information on this?" or "Mr. Exec I'm calling you today with information on what's called a dividend capture strategy are you familiar with this? (As you may be aware) It's a strategy that employs conservative divendend paying blue chip stocks to deliver a very high income to its owners. We're coming out with a fund that employs this strategy next week that is expected to yield over 9%. Can I send you some information on it?"

The idea is to get a conversation going to get more info and permission to call back. Doesn't matter if they bite on what's being offered. even though that would be nice.

2. Call to find near retirees. Call as a retirement specialist that caters to CEOs, and other top corporate mgrs. "Mr. exec i specialize in the wealth management issues of retiring top business executive such as yourself. We work with top management retirees to maximize their income while minimizing their taxes as part of an overall wealth management plan. Tell me Mr. Exec., will you be retiring over the next ten years?" This will build a list of retirees. Fall back position is it's never too early to work on a good plan.

3. If the companies are public, offer stock option financing or Wall Street reseach on their own firm.

4. Any big public companies in the area. Become an expert and call to present the info. Here's an example of what i mean. Commerce Bank (CBH) is headquartered in my home town. Everyone in my area knows them. years ago at the beginning of their growth we became CBH experts and opened accounts using the bank's then good reputation. Things have changed since, but we are at a huge profit today.

Keep the first call as breif as possible. You don't want them thinking 'Oh no, not that guy again" when you call back.

Lastly, don't choke on calling these people. I've seen guys who couldn't spell CEO talk CEOs of large public companies into million dollar first trades. If necessary call some friends first to practice. Use that same relaxed confident tone when talking to CEOs/top execs.

You never make the shots you don't take. Take the shot.

Good luck.

ManDate - I have the same list of names, but mine was about 750 (pretty sure there's overlap, I'd be curious as to where you got yours).  I sorted them by industry (best I could) and my approach was more of a product pitch (as recommended by BondGuy).  Unfortunately your list is probably well called on - but most people won't make the second or third call.  I would say that about 20% of these names are 'out of date' and you probably won't reach them.  However, ask who their replacement is - and if you can speak to them.

Are you sending a letter in advance of your call?

Apprentice, actually I am positive our lists are NOT the same.  Again, I had a hand in CREATING this list.  And they are all in only ONE industry.  And they are all only in ONE state...my state.  I did not pay for the list.  Btw...I think this is a great strategy to recommend to anyone else out there....creating your own list.  Read that tip a long time ago in an (otherwise stupid) Bill Good book.

No letter being sent in advance.

BondGuy...fantastic information and suggestions.  I really can't thank you enough.  I will be using the product pitch.  I like the sound of this dividend capture strategy (which makes me think they might too)...where can I find more info on these kinds of funds?  Going to do a google search now, but let me know if you have some you prefer. 

The product pitch reminds me of the script (found on here) that I have been doing that has been working very well with individuals in very nice neighborhoods... something like "I stopped by twice in the last couple of months and missed you...looked u up today to leave a voice mail...glad i got you...one question, do you use a retirement advisor?...great, can i keep in touch from time to time. 

Today, btw, was a great day.  Got a retired personal injury attorney who said "One percent fee-based sounds like a great deal for your advice...send me some info."  Also had a decent conversation with the owner of a large Toyota dealership here in town...cold-called him at home.

Thanks to you both,

ManDate

FYI...Dividend Capture Strategy

------------

[quote]Income investors who buy stocks for their dividend payouts will always keep a close watch on the ex-dividend date. Using what's called a "dividend capture strategy," these investors scoop up the stock right before it goes ex-dividend, capture the dividend, hold the stock for at least 61 days -- the minimum time required for a dividend to be taxed at the recently reduced 15% rate -- then move out of the stock and into another security that is about to go ex-dividend.

By employing a dividend capture strategy, investors can capture 50% more dividends in any given year from the same investment dollars[/quote]

http://www.streetauthority.com/cmnts/cp/2006/02-22.asp

[quote=ManDate]

Apprentice, actually I am positive our lists are NOT the same.  Again, I had a hand in CREATING this list.  And they are all in only ONE industry.  And they are all only in ONE state...my state.  I did not pay for the list.  Btw...I think this is a great strategy to recommend to anyone else out there....creating your own list.  Read that tip a long time ago in an (otherwise stupid) Bill Good book.

No letter being sent in advance.

BondGuy...fantastic information and suggestions.  I really can't thank you enough.  I will be using the product pitch.  I like the sound of this dividend capture strategy (which makes me think they might too)...where can I find more info on these kinds of funds?  Going to do a google search now, but let me know if you have some you prefer. 

The product pitch reminds me of the script (found on here) that I have been doing that has been working very well with individuals in very nice neighborhoods... something like "I stopped by twice in the last couple of months and missed you...looked u up today to leave a voice mail...glad i got you...one question, do you use a retirement advisor?...great, can i keep in touch from time to time. 

Today, btw, was a great day.  Got a retired personal injury attorney who said "One percent fee-based sounds like a great deal for your advice...send me some info."  Also had a decent conversation with the owner of a large Toyota dealership here in town...cold-called him at home.

Thanks to you both,

ManDate

[/quote]

ETY is an Eaton Vance closed end fund. They're bring a new fund next month. talk to your Eaton vance Eaton Vance wholesaler or try their web site.

Good luck. Keep up the calls.

[quote=ManDate]

[quote=My Inner ChildI didn't say that you lied. You asked me what to say and I suggested that you tell the truth. You don't need a script for it and people like it. [/quote]

My Inner Child,

Thank you for your reply.  What kind of truths do you tell?

Thank you,

ManDate

[/quote]

How many kinds are there?

This thread reminds me of the movie "Wall Street." Maybe buying cigars is an idea.

Peace to all as Jimmy Carter's "lies" are starting to be realized.  

[quote=BondGuy]

ETY is an Eaton Vance closed end fund. They’re bring
a new fund next month. talk to your Eaton vance Eaton Vance
wholesaler or try their web site.

Good luck. Keep up the calls.

[quote=BondGuy]

3. If the companies are public, offer stock option financing or Wall Street reseach on their own firm.[/quote]

This is a very good one. Most folks in the ESOP programs would be interested in a research report on their own company. Very good take up on this.

[quote=ManDate]

FYI…Dividend Capture Strategy

------------

[quote]Income investors who buy stocks for their dividend payouts will always keep a close watch on the ex-dividend date. Using what's called a "dividend capture strategy," these investors scoop up the stock right before it goes ex-dividend, capture the dividend, hold the stock for at least 61 days -- the minimum time required for a dividend to be taxed at the recently reduced 15% rate -- then move out of the stock and into another security that is about to go ex-dividend.

By employing a dividend capture strategy, investors can capture 50% more dividends in any given year from the same investment dollars[/quote]

http://www.streetauthority.com/cmnts/cp/2006/02-22.asp

One of their disciplines it to identify attractive secotrs and the underlying companies. Of course, the capturing of te dividend is one key ingredient, but they look for companies whose intrinsic value is below the market price. Also, one the DIV gets paid they look for opportunities that immediately trade back up the price before the dividend was paid.

Also, special dividends are taken into consideration as well.

If they were simply entering and exiting positions to capture a dividend I would agree that the strategy may be suspect, but their are multiple strategies taking place there.

[quote=blarmston]

One of their disciplines it to identify attractive secotrs and the underlying companies. Of course, the capturing of te dividend is one key ingredient, but they look for companies whose intrinsic value is below the market price. Also, one the DIV gets paid they look for opportunities that immediately trade back up the price before the dividend was paid.

Also, special dividends are taken into consideration as well.

If they were simply entering and exiting positions to capture a dividend I would agree that the strategy may be suspect, but their are multiple strategies taking place there.

Send them a “Strip-A-Gram”…but make sure you get a volume discount

beforehand.



If you go in alphabetical order, prospect #5 will probably call you first.

Capturing the dividend is a joke.  "Capturing the dividend" simply means, "we're going to take some of your money that you just gave to us and give it right back to you, and then you are going to have to pay taxes on that money...which belonged to you tax free just a few days ago."

By the way, saying that this strategy "may be suspect" is not correct at all.  The strategy is not only a total joke, but it is also deemed unethical by the regulators.

The proof is in the pudding... Check out the returns from some of these funds. Alpine has a couple good performers I believe...

[quote=blarmston]

Capturing the dividend is a joke.  “Capturing the dividend” simply means, "we’re going to take some of your money that you just gave to us and give it right back to you, and then you are going to have to pay taxes on that money…which belonged to you tax free just a few days ago."

By the way, saying that this strategy “may be suspect” is not correct at all.  The strategy is not only a total joke, but it is also deemed unethical by the regulators.

The proof is in the pudding... Check out the returns from some of these funds. Alpine has a couple good performers I believe...

[quote=blarmston]

If they were simply entering and exiting positions to capture a dividend I would agree that the strategy may be suspect, but their are multiple strategies taking place there.
[/quote]

Dividend capture is a stupid excuse for churning an account.

My thought's on this "strategy" are found in my signature.